(Luis Cornelio, Headline USA) JPMorgan Chase admitted Friday it cut off multiple accounts belonging to President Donald Trump after Jan. 6, 2021.
The nation’s largest bank made the confession in response to a damning lawsuit filed by Trump and the Trump Organization over the debanking.
Trump is seeking $5 billion in damages and named JPMorgan Chase CEO Jamie Dimon as a defendant.
In a court filing, JPMorgan’s former chief administrative officer Dan Wilkening wrote that in February 2021, the bank “informed Plaintiffs that certain accounts maintained with JPMorgan’s CB and PB would be closed.”
According to CNBC, “PB” and “CB” stand for private and commercial banking, respectively.
Trump filed the scathing lawsuit in Florida, while JPMorgan is attempting to move the case to New York, where it could face a more sympathetic jury.
Trump specifically accuses JPMorgan of trade libel and violating the Florida Unfair and Deceptive Trade Practices Act.
The president contends that he tried to prevent the debanking by speaking directly with Dimon. Dimon allegedly told Trump he would investigate but never followed up.
Trump’s attorneys called JPMorgan’s admission “devastating” and said it proves the bank “unlawfully and intentionally” debanked Trump and his family.
“President Trump is standing up for all those wrongly debanked by JPMorgan Chase and its cohorts, and will see this case to a just and proper conclusion.” the attorneys added.
